Nice owners Ineos and Jim Ratcliffe make €5bn bid to buy Chelsea

The London club, still holding the Champions League, has been on sale since the Russian oligarch, Roman Abramovich, decided to part with it, because it was subject to sanctions following the invasion of Ukraine by Russia.

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The boss of chemical giant Ineos, Jim Ratcliffe, who already owns the Nice club and the Ineos Grenadiers cycling team, has made an offer of 4.25 billion pounds (5 billion euros) to buy the club English from Chelsea, his company announced on Friday, April 29.

It’s a British offer for a British club“, explains the company in a press release, promising “to invest in Stamford Bridge to make it a world-class stadium“, as well as in the sports sector to bring together “the best players and coaches in the world“. He plans to make 2 billion euros in investments in the club over 10 years, and 3 billion in the direction of a charitable foundation to support the victims of the war in Ukraine.

The 69-year-old businessman had already considered an offer in 2019, before falling back on the Nice club. Ineos has also given its name since 2019 to one of the most prominent teams in cycling. “We believe London should have a club that reflects the stature of the city. A club that is held in the same way as Real Madrid, Barcelona or Bayern Munich“, explains Ineos, assuring “make this investment as a fan of the beautiful game and not with a view to making a profit from it“.

The prestigious London club, currently 3rd in the Premier League and which was eliminated from the Champions League in the quarter-finals, has been put up for sale since March 2 by its Russian owner Roman Abramovich, targeted by sanctions after the invasion in Ukraine. Chelsea hope to have a new owner in place by the end of May, so that they can prepare for next season with confidence. The current sanctions indeed prevent any signature of contract with the players.

Stephen Pagliuca, co-owner of the Boston Celtics (basketball), a consortium led by Todd Boehly, co-owner of the Los Angeles Dodgers (baseball), and Martin Broughton, former chairman of Liverpool and British Airways, are the other three candidates for a takeover. announced as imminent.

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